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's biggest bank. >> our chief correspondent is falling this story for us now -- is following this story for us now. possibly that of the iceberg -- the tip of the iceberg. >> this report and then goes back a couple of years. this is one of the biggest raids so far. authorities they have good reason to believe the bank's co- ceo was involved in illegal activity. as your report said come fitschen and the -- said, fitschen and the bank are claiming that the talks documents -- the tax documents were amended in time. it does look like an attempt to play fast and loose with value added tax reporting, and that is a very big public-relations disaster for the bank because it comes on top of a number of other investigations, all of them asking some questions about credibility of the bank. at a time when both ceos had claimed -- ceo's had claimed they were providing more transparency and more responsibility. >> this is germany's biggest financial institution by far. how damaging is this credibility -- this to their credibility? >> some of the other investigations include manipulation of the libor
ministers approved a loan just last week. now the greeks have announced one way they will use the funds. what's the latest? >> one of the requirements for greek receiving the bailout fund is they cut down their debt. they will buy back government bonds a t a discount. greek officials said on monday they will purchase the bonds from private financial institutions. they will pay 30 to 40% of the original price before the bonds mature. the announcement came a week after euro zone finance ministers agreed to offer 43.7 billion euros. that's about $57 billion. greek officials said the creditor institutions will receive bonds issued by the euro zone's bail out fund instead of cash. the buy back program is a condition leaders must fulfill to receive the next cash infusion. the success depends on the bond holders. finance chiefs met in brussels to discuss how to proceed with extending eight degrees. euro president said the region's financial authorities will monitor greece's bond buying back program. he says the finance ministers will sign off in the next round of loans to greece when they meet
paper also uses the phrase enemy to define north korea. it notes the reclusive nation has honed missile technology through several tests and cites analysis of satellite images and concludes that scientists are enriching uranium at a new facility. >>> the defense and foreign policy files are just two in a stack that will be on park's desk when she takes over as president. many south koreans want her to rein in the country's conglomerates. these big business blocks have helped fuel the economy but they've also been suffocating small and medium sized companies. our reporter has the story. >> reporter: this man loves serving up bread and other goods to customers who visit his small bakery. he says his products are tasty and affordable. but the business he bought a year ago is facing an uncertain future. >> translator: we are all in a life or death situation. >> reporter: south korea used to have 18,000 small independent bakeries. but by the beginning of this year, only about 4,000 were still open. the pressure has come from big business, conglomerates have opened their own bakeries. you can
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